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Material Quantity Formula

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Material Quantity is the difference between the actual quantity of materials and the standard quantity of materials based on the level of production achieved. Check FAQs

MQ = STP \cdot (SQ - ACQ)

MQ - Material Quantity?STP - Standard Price?SQ - Standard Quantity?ACQ - Actual Quantity?

Material Quantity Example

With values

With units

Only example

Here is how the Material Quantity equation looks like with Values.

Here is how the Material Quantity equation looks like with Units.

Here is how the Material Quantity equation looks like.

4275 = 855 \cdot (100 - 95)

4275 = 855 \cdot (100 - 95)

4275 = 855 \cdot (100 - 95)

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Material Quantity Solution

Follow our step by step solution on how to calculate Material Quantity?

FIRST Step Consider the formula

MQ = STP \cdot (SQ - ACQ)

Next Step Substitute values of Variables

∴

MQ = 855 \cdot (100 - 95)

Next Step Prepare to Evaluate

∴

MQ = 855 \cdot (100 - 95)

LAST Step Evaluate

∴

MQ = 4275

Material Quantity Formula Elements

Variables

Material Quantity

Material Quantity is the difference between the actual quantity of materials and the standard quantity of materials based on the level of production achieved.

Symbol: MQ

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Material Quantity

Standard Price

Standard Price refers to the predetermined cost per unit of a particular material based on factors such as historical data, market prices, negotiated contracts, or internal cost estimates.

Symbol: STP

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Standard Price

Standard Quantity

Standard Quantity refers to the predetermined amount of materials that should be used for a specific level of production or output.

Symbol: SQ

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Standard Quantity

Actual Quantity

Actual Quantity refers to the real amount or volume of a specific item, material, product, or resource used, consumed, produced, or acquired within a certain timeframe.

Symbol: ACQ

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Actual Quantity

Other formulas in Cost Accounting category

Go Material Cost Variance

MCV = (SQAO \cdot STP) - (ACQ \cdot ACP)

Go Material Price Variance

MPRV = ACQ \cdot (STP - ACP)

Go Revised Standard Quantity

RSTQ = (\frac{SQM}{TSQ}) \cdot TAQ

Go Material Usage Variance

MUV = STP \cdot (AQU - SQ)

How to Evaluate Material Quantity?

Material Quantity evaluator uses Material Quantity = Standard Price*(Standard Quantity-Actual Quantity) to evaluate the Material Quantity, Material Quantity is the difference between the actual amount of materials used and the amount that was expected to be used. Material Quantity is denoted by MQ symbol.

How to evaluate Material Quantity using this online evaluator? To use this online evaluator for Material Quantity, enter Standard Price (STP), Standard Quantity (SQ) & Actual Quantity (ACQ) and hit the calculate button.

FAQs on Material Quantity

What is the formula to find Material Quantity?

The formula of Material Quantity is expressed as Material Quantity = Standard Price*(Standard Quantity-Actual Quantity). Here is an example- 4275 = 855*(100-95).

How to calculate Material Quantity?

With Standard Price (STP), Standard Quantity (SQ) & Actual Quantity (ACQ) we can find Material Quantity using the formula - Material Quantity = Standard Price*(Standard Quantity-Actual Quantity).

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Material Quantity Formula

Material Quantity Example

Material Quantity Solution

Material Quantity Formula Elements

Other formulas in Cost Accounting category

How to Evaluate Material Quantity?

FAQs on Material Quantity

Variable Name